Understanding Public Finance and Economics Concepts" (61 characters)
Explore the specialized branch of economics, public finance, which focuses on government income, expenses, taxation principles, public revenue sources, and causes of public expenditure increases. Dive into the definitions, principles, and key aspects of public finance and its significance in economic management. (296 characters)
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
BUSINESS ECONOMICS PUBLIC FINANCE BY B.PRIYADHARSHINI ASST.PROF OF COMMERCE
MEANING It is a Specialised branch of economics which deals with the income and Authorities such as Central Governments, State Governments, Local Boards, Panchayats. This branch of economics government raised the fund to meet the expenses. expenditure of Public Municipalities and studies how the
DEFINITION Science which is concerned with the income and expenditure of public authorities and with the adjustment of one to another - Dalton The complex problems that centre on the revenue- expenditure process of government is traditionally known as public finance. -R.A. Musgrave
PUBLIC REVENUE The income of the government through all sources is called public income or public revenue. SOURCES TAX FEES SPECIAL ADJUSTMENTS FINE & PENALITIES GIFTS & DONATIONS GRANTS IN AID
TAX A tax is a compulsory contribution from a person to the government to defray the expenses incurred in the common interest of all, without reference to specific benefits conferred .-Seligman Classification Direct Tax Personal Taxation Indirect Tax Commodity Taxatiom
PRINCIPLES OF TAXATION Canon of Equality- ability to pay tax Canon of Certainty -individual bound to pay is to be certain. Canon of Convenience- time and manner Canon of Economy-Should not impair the productive power of economy.
PUBLIC EXPENDITURE Expenses incurred by the public authorities central, state and local self- governments are called public expenditure. Such expenditures are made for the maintenance of the governments as well as for the benefit of the society as whole.
CAUSES OF INCREASE IN PUBLIC EXPENDITURE Size of the Country and Population, Defence Expenditure Welfare State Economic Development Price Rise
TYPES OF PUBLIC EXPENDITURE Developmental Expenditure-expenditure incurred on social and community services, economic services, etc. Non-developmental expenditure made for administrative service, defence service, debt servicing, subsidies, etc. Revenue expenditure includes general services, social and community services and economic services), defence expenditure, etc. Capital expenditure comprises expenditures incurred on social and community development, defence, general services, etc. includes expenditures civil expenditure (e.g., development, economic
CANONS OF EXPENDITURE Canon of benefit- Usefullness. Canon of Economy Canon of Sanction Canon of Surplus
